[PRESS RELEASE] – MIAMI, June 13, 2025 – AYR Well-Being Inc.The company, which is a vertically integrated multistate U.S. cannabis operator, has announced that they have not yet completed filing their interim financial statements and management’s analysis and the related certificates of the CEO and Chief Financial Officer (CFO) for the quarter ended March 31st, 2025 (collectively the “interim files”) as per the originally anticipated June 13th, 2025 date.
According to previous disclosures, the reason for the late filing of interim filings was primarily the ongoing negotiation between the company and its creditors. The “ad-hoc” committee is also continuing its assessment of accounting classifications that are appropriate in certain debt obligations. The company is evaluating capital structure options and other strategies to meet its payment obligations, and support its long-term strategy.
As disclosed on June 6, 2025, the Ontario Securities Commission (OSC) has issued a failure-to-file cease-trade order (FFCTO) under National Policy 12-307 – Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. This FFCTO bans trading of AYR shares in any Canadian jurisdiction and suspends the trading of AYR stocks on the Canadian Securities Exchange. The FFCTO remains in place until the company files all interim CSE filings, completes the FFCTO and meets the CSE’s requirements.
AYR is striving to finish the interim filings within the shortest possible time. The company will give a more detailed update about the expected timing of filing interim filings before June 27, 2025 or earlier, if filings have been completed prior to that date.
The FFCTO is expected to have no impact on its ability to conduct business as usual.